You may have heard of PEGA Pool by now – the world’s first eco-friendly mining pool that uses a portion of its members’ pool fees to plant trees in an effort to offset the CO2 emitted by the global Bitcoin mining community.
After much anticipation, PEGA Pool’s founders will finally be cutting the ribbon and unleashing their creation onto the world. But before Q1 2023 rolls around, here are the top 6 most common PEGA Pool questions answered.
- What is a mining pool?
Mining pools are collective communities of crypto miners who collaborate and combine their computational resources. The goal is to increase their likelihood of finding new crypto blocks and earning rewards for contributing to Bitcoin mining rounds.
But the benefits of adding a block to the blockchain go beyond getting rewarded for their energy and time. BTC miners can also pat themselves on the back for making the crypto-verse an even safer, more secure place for us all. BTC miners help to create unalterable records to prevent fraud and unauthorised activity online.
- Why does the world need an eco-friendly mining pool?
While Bitcoin (BTC) mining is crucial for growing and maintaining the integrity of the blockchain, it’s also wreaking havoc on the environment. The extensive computational resources of BTC miners consume an incredibly high amount of electricity, which relies on the burning of fossil fuels.
This releases greenhouse gases into the atmosphere, a primary contributor to global warming. By creating the world’s first eco-friendly mining pool, PEGA Pool is trailblazing the journey towards a more sustainable crypto industry by using a portion of all members’ fees to plant trees.
- How can planting trees offset CO2?
Trees use a process called photosynthesis to extract CO2 from the air and convert it into oxygen and plant matter, with one single mature tree being capable of producing as much as 50 pounds of CO2 every single year. However, a few trees aren’t enough – we’d need at least 300 million new trees planted to see a noticeable CO2 offset.
- Does PEGA Pool reward its users?
PEGA Pool is rewarding BTC miners who have already switched gears to renewable energy, in the form of a 50% reduction on pool fees.
- Can anyone join PEGA Pool?
While the eco-friendly mining pool’s fee reduction is only available to clients who mine BTC using renewable energy, their doors are open to anyone interested in lighting a torch, joining the PEGA Pool army, and blazing the path towards a more sustainable crypto industry.
- Does PEGA Pool have a good reputation?
Not only is PEGA Pool 100% British-owned and -operated, but the eco-friendly mining pool was also ranked as the 13th largest mining pool on the planet by BTC.com. Their clients can dive right in with peace of mind knowing the pool is not run by a faceless conglomerate of questionable origin.
Join the PEGA Pool Movement Today
Visit PEGA Pool’s website to learn more about the world’s first eco-friendly mining pool, and discover how you can grab one of the last available seats on their BETA train.
This post is commissioned by PEGA Pool and does not serve as a testimonial or endorsement by The Block. This post is for informational purposes only and should not be relied upon as a basis for investment, tax, legal or other advice. You should conduct your own research and consult independent counsel and advisors on the matters discussed within this post. Past performance of any asset is not indicative of future results.
© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.